Metro International S.A. ("Metro" or "the Group"), the international newspaper group, today announces that Mr Peter Castenfelt, Chairman of Metro International S.A. has informed the Company of his resignation from the Board due to personal reasons. This decision is effective immediately. As a result, Metro's Board of Directors has elected Mr Dennis Malamatinas as the new Chairman of Metro effective today. Mr Malamatinas has been a Director of the Board since May 2004 and was formerly CEO of Burger King Corporation worldwide and former Director of the Boards of Reuters Group PLC and Diegeo PLC.
Mr Castenfelt commented: "It has been rewarding to work with Metro over the past year and a half, first as an advisor to the Board and then as Chairman, and in co-operation with CEO Pelle Törnberg put in place clear organisational structures and help to engender an operational focus which will assist the company's goal of solid long term profitability. With much of this work completed and with new obligations outside the area of business that unexpectedly have arisen in my life, I have however reluctantly decided to step down from the Board of Metro."
Mr Malamatinas commented: "I am honoured to become the Chairman of Metro. The company operates in an exciting environment, and I look forward to working with the management and the Board to contribute to the further development of this truly fascinating business." *** For further information, please visit www.metro.lu, or contact:
Dennis Malamatinas, Chairman of the Board of Directors Tel: +44 20 7016 1300
ABOUT METRO INTERNATIONAL
Metro is the largest and fastest growing international newspaper in the world. 70 Metro editions are published in 93 major cities in 21 countries in 19 languages across Europe, North & South America and Asia. Metro has a unique global reach - attracting a young, active, well-educated, metropolitan audience of over 18.5 million daily readers and more than 37 million weekly readers. Metro has an equal number of male and female readers and 70% are under the age of 45. Metro's advertising sales have grown at a compound annual rate of 44% since the launch of the first edition in 1995.
Metro International S.A. 'A' and 'B' shares are listed on the Stockholmsbörsen 'O-List' under the symbols MTROA and MTROB.
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